INKAS continues evolution beyond cash and transport

A new vehicle from INKAS, the Iveco Daily 6 for cash management and transportation of valuable assets, designed for the European market.Courtesy INKAS

INKAS Security Services, as a company, is going through a period of reinvention. Known for its armoured transport and cash handling business, there is a lot more in development, according to president and CEO Victor Goodman.

Goodman, who joined last year, is a veteran of the banking industry and a former top executive with INKAS competitor Brinks. “To make a long story short, I am very keen and interested to take this business to the next level.”

Goodman doesn’t envision a large departure from INKAS’ core businesses — those are in the midst of expansion plans too, as the Toronto-based company rolls out its business across Ontario and into parts of Quebec and Alberta. However, the cash business is likely to occupy a smaller portion of INKAS’ business going forward, he says.

“We cannot be singularly focused,” he says. “As such, we need to have a broader scope on where we’re headed as a security company… We are not a one-trick pony.”

The company manufactures armoured vehicles to various specifications, including cash and valuables transportation, as well as luxury vehicles. But of increasing interest are different yet related industries like security software development.

The company’s software division, AppGear, has created products including a visitor management system called iLobby. Used internally by the company, it is also marketed to Fortune 500 companies as well as major infrastructure facilities like airports. The software, now almost three years old, “started off with just the functionality that we needed,” explains Paul Khakhan, CEO of AppGear, but has since “morphed into a solution that can accommodate the bigger needs of different types of organizations.”

“We push outside of the market boundaries,” adds Goodman. “And to push outside of the market boundaries, you have to build your own technology. That has been our roadmap from the very beginning.

“Our goal is to bake in a deep level of innovation with every product and service we provide. With research and development being a pivotal factor in our growth, we recognize the importance of continuing to push the boundaries, in order to further elevate INKAS as a brand.”